Total mobile money transactions hit GH¢1.775trn

Mobile money transactions in Ghana reached GH¢1.775 trillion in the first eight months of 2024, up from GH¢1.031 trillion during the same period in 2023, according to the Bank of Ghana.

Despite fluctuations, the trend shows consistent growth, with January 2024 seeing GH¢198.4 billion and August 2024 reaching GH¢273.6 billion.

This significant increase highlights opportunities for deeper financial inclusion but raises questions about the relatively low returns from the Electronic Transaction Levy.

Monthly transaction values fluctuated slightly but generally trended upwards throughout the year.